Challenger banks in £1.6bn merger talks

Two of Britain's biggest challenger banks have confirmed they are in talks about a £1.6bn merger. Wolverhampton-based Charter Court Financial Services and OneSavings Bank (OSB) say that they are in advanced discussions regarding a possible all-share combination of the two companies. The deal, which would be structured as a takeover by OSB, would see Charter Court shareholders take a 45% stake in the combined group. It is proposed that Andy Golding, currently CEO of OSB, will become CEO of the combined group. In a statemen... For the full story register now for free or login below...
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